Three prominent Slovenian businessmen have launched an initiative designed to convince the government to let the corporate sector invest in construction of unit two at the country's sole nuclear power station, potentially in exchange for fixed energy prices over the long term.

"Business wants the state to facilitate an active participation in the planning, supervision an investments in this project," said Igor Akrapovič, the boss and owner of exhaust maker Akrapovič who spearheads the initiative along with Jure Knez, the founder and director of hi-tech firm Dewesoft, and Radko Luzar, owner and director of electronics maker L-Tek.

The group has conducted a detailed study and thinks a second unit at the Krško nuclear power station is the only logical way to achieve green transition targets and ensure Slovenia remains self-sufficient.

Akrapovič argues the involvement of business is beneficial and would improve transparency because executives are mindful what happens with their money. That would also address public concerns about potential corruption in the mega energy project.

He said his company was willing to invest 10-15% of annual profits, which would come to €30-35 million during the time it takes to build a new power station.

In exchange, businesses would like tax breaks for the investments and fixed long-term prices.

Knez highlighted the Finnish Mankala model as an example: companies co-financed construction and now receive electricity at cost.

The cost in Krško is around €45 per MWh, "a price that the Slovenian corporate sector can live with after our time has passed," he said.

Both Akrapovič and Knez said Slovenia needed a stable energy supply and long-term solutions, something which solar alone could not satisfy.

Now that a third of domestic production will be lost due to the planned closure of the Šoštanj thermal power plant, the authorities must "make a few decisive steps forward," said Akrapovič.

Earlier this month, the Ministry of the Environment, Climate and Energy revealed it was working on a bill that would reduce the Šoštanj plant to a public service supplying district heating to the region before the planned coal phaseout.

Due to the high prices of emission coupons it has to pay, the plant has been making losses and is projected to continue to operate at a loss. The ministry is thus planning to remove it from the state-owned HSE energy holding, along with its supplier, the Velenje coal mine.

They argue that HSE continuing to offset their losses would have amounted to illegal state aid.

Depending on its capacity, Krško 2 is estimated to cost between €9.3 billion and €15.4 billion. A consultative referendum on the project is planned to take place in late November.